Economics AcaDeca 2026

administered rates

rates set or administered by the Fed to affect the policy rate and economic conditions

aggregate demand curve

relationship between the level of expenditures in an economy and the price level; downward slope

aggregate supply curve

relationship between total production in an economy and the price level; upward slope

ample reserve policy

use of the Fed’s administered rates to affect the policy rate and ensure sufficient reserves in the banking system.

asset price bubble

a market phenomenon characterized by the rapid escalation of asset prices often followed by a sharp decline.

average labor productivity

total output divided by the quantity of labor employed in its production

bank panic

simultaneous failure of many banks, often following multiple bank runs

bank run

rush of depositors to withdraw funds from bank

barriers to entry

conditions that prevent firms from freely entering/exiting a market

building & loan associations

members of an organization buy shares in exchange for eligibility for home mortgages or large loans

business cycle

fluctuations in aggregate economic activity

capital

money and physical assets (e.g. machinery, tools, buildings)